Buying a New Construction Home vs Existing - a podcast by Spencer Hsu, MBA Tech Realtor
from 2023-12-14T09:44:00.633559
Every Tuesday, I go into detail a question I frequently get asked. Do you want to learn the pros and cons of purchasing a new home construction? I will also share some of my tips at the end of the video
Show Notes:
Given how low inventory is, new construction homes give more options to your purchase pool.
New construction homes have a guarantee. 10 year structure which is a California mandate. Thus a lower cost of maintenance also the design and appliances are generally more energy efficient with dual pane windows and better insulation.
Some of the layouts are much better than the 2010 models. A lot more in law units setups on the bottom floor
For many communities, things can be negotiated even though they list at a certain price. This is because once they lower the price, it’s a new lower bar for the public to see so it's a last resort for them.
The community is genrerally more newer families.
What are the cons?
Some do not like the styles. Most townhomes/single family homes are 3 if not 4 story these days
If you look at the areas, they are more dense so if you like space, it’s not as available. Parking is generally much tighter and more difficult.
Generally a premium. Be sure to work with a Realtor to see what else has sold and how much you are paying for the new construction
If it’s a new area, there may be risks involved with an unknown community. I.e. possible soil contamination
Tips:
So why use a Realtor?
Just like preowned homes, builders pay the agent. You get the experience of a top Realtor and can negotiate a better deal. You will not get a better deal on your own and you need to also understand what others have sold for. You want someone working at your best interest, just like preowned homes, I don’t dual end as the interests will never be aligned.
Research the builder when buying new construction. Read online reviews of the community, and see their finishes in person.
Have everything in writing. Model homes are NOT the same as what you would move into. Be sure to check out and be OK with the designated lot location.
Link to new construction homes: https://www.homesbyspencerhsu.com/new-home-construction/
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My Background: Born and raised in the Bay Area, I spent 11 years as Technology Sales Manager before becoming a Realtor. Having personally invested and done renovations through house flips in the Bay Area, I wanted to help busy professionals in the Bay Area tech industry find their dream home by leveraging tech, data and local insights. Our team specializes in creating trusted frameworks of buying, selling, and investing in the Bay Area. In 2022, we are thrilled to share that we have helped 80 clients in the Bay Area with their moves, which positions our team as the Top 1% groups in the country. Looking forward to helping you into your next home and save/earn you more money!
Spencer Hsu, MBA, Realtor
408-547-4590
EXP Realty DRE #02077253
https://www.homesbyspencerhsu.com/
#BayAreaRealEstate
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